Deutsche Post Chairman to resign
Juergen Weber will step down as Chairman of Deutsche Post at the end of the year and be replaced by the former Chief Executive of Deutsche Postbank, Wulf von Schimmelmann.
Postbank ex-CEO von Schimmelmann to take over.
Juergen Weber is set to step down as chairman of Deutsche Post at the end of the year and be replaced by the former Chief Executive of Deutsche Postbank, Wulf von Schimmelmann, sources familiar with the situation said.
A Post spokeswoman declined to comment on the matter. The daily Frankfurter Allgemeine Zeitung, in a prerelease of its Wednesday edition, also reported the imminent change.
The sources said Weber had intended to step down early this year and hand over to former Post Chief Executive Klaus Zumwinkel, but the plan went awry when Zumwinkel came under investigation for suspected tax evasion and left the company.
Von Schimmelmann found an advocate in Frank Appel, who succeeded Zumwinkel as Post CEO, according to the sources. Von Schimmelmann stepped down as CEO of Postbank in 2007 before his term had expired, citing personal reasons.
He started his career in 1972 with management consultancy firm McKinsey and served on management boards of several German banks.
In 1997 he set up his own buyout firm and became the head of Postbank two years later.
